SPRINGFIELD HOUSING MARKET DATA

There was an increase in total units sold in May, with 138 sold this month in Springfield Real Estate. This month's total units sold was higher than at this time last year.

Versus last year, the total number of homes available this month is higher by 11 units or 12%. The total number of active inventory this May was 106 compared to 95 in May 2024. This month's total of 106 is lower than the previous month's total supply of available inventory of 133, a decrease of 20%.

Last May, the median sale price for Springfield Homes was $700,000. This May, the median sale price was $762,500, an increase of 9% or $62,500 compared to last year. The current median sold price is 7% higher than in April.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

In May, there was 0.8 months of supply available in Springfield. The amount of supply is similar compared to a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

This month there were 107 homes newly listed for sale in Springfield compared to 126 in May 2024, a decrease of 15%. There were 114 current contracts pending sale this May compared to 119 a year ago. The number of current contracts is 4% lower than last May.

In May, the average sale price in Springfield was 101.9% of the average list price, which is 2.7% lower than at this time last year.

This month, the average number of days on market was 11, higher than the average last year, which was 8, an increase of 38%.





FOCUS ON: SPRINGFIELD HOUSING MARKET			MAY 2025

Zip Code(s): 22151, 22150, 22152 and 22153
Units Sold 138	Active Inventory 106	Median Sale Price $762,500	Days On Market 11

Up 7% Vs. Year Ago	Up 12% Vs. Year Ago	Up 9% Vs. Year Ago	Up 38% Vs. Year Ago


		Units Sold There was an increase in total units sold in May, with 138 sold this month in Springfield Real Estate. This month's total units sold was higher than at this time last year.
Active Inventory Versus last year, the total number of homes available this month is higher by 11 units or 12%. The total number of active inventory this May was 106 compared to 95 in May 2024. This month's total of 106 is lower than the previous month's total supply of available inventory of 133, a decrease of 20%.
		Median Sale Price Last May, the median sale price for Springfield Homes was $700,000. This May, the median sale price was $762,500, an increase of 9% or $62,500 compared to last year. The current median sold price is 7% higher than in April. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 107	Current Contracts 114	Sold Vs. List Price 101.9%	Months of Supply 0.8

Down -15% Vs. Year Ago	Down -4% Vs. Year Ago	Down -2.6% Vs. Year Ago	No Change Vs. Year Ago


		Months of Supply In May, there was 0.8 months of supply available in Springfield. The amount of supply is similar compared to a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts This month there were 107 homes newly listed for sale in Springfield compared to 126 in May 2024, a decrease of 15%. There were 114 current contracts pending sale this May compared to 119 a year ago. The number of current contracts is 4% lower than last May.
		Sale Price to List Price Ratio In May, the average sale price in Springfield was 101.9% of the average list price, which is 2.7% lower than at this time last year. Days on Market This month, the average number of days on market was 11, higher than the average last year, which was 8, an increase of 38%.


	Springfield are defined as properties listed in zip code/s 22151, 22150, 22152 and 22153.
	*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
	Information included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.